FTX Trading, which is the entity behind the FTX.com exchange, filed for bankruptcy in the U.S. last November, while FTX Digital Markets, a Bahamas-based entity, entered liquidation proceedings the same month. The joint provisional liquidators in the Bahamas and FTX Trading’s U.S. leadership had butted heads over the past few weeks, alleging interference with their respective proceedings and arguing over jurisdictional issues. FTX, which has dozens of subsidiaries and related entities, launched a complex bankruptcy case when it filed, with branches in numerous countries. The U.S. and the Bahamas have taken the lead on actually working through the bankruptcy process so far.
